Many on Fed Awaiting More Job Gains Before Tapering QE: Economy

Many Federal Reserve officials want to see more signs employment is picking up before they’ll begin scaling back $85 billion in monthly bond purchases, according to minutes of policy makers’ meeting last month.

“Many members indicated that further improvement in the outlook for the labor market would be required before it would be appropriate to slow the pace of asset purchases,” according to the record of the Federal Open Market Committee’s June 18-19 gathering released today in Washington.